News of the bonus, which is for 2004, comes after Orchid recently reported strong growth in fourth-quarter sales. As GenomeWeb News reported last month, Orchid BioSciences recorded a 29-percent increase in fourth-quarter revenues, the company said today.
R&D spending for the quarter increased to $335,00 from $209,000 year over year, Orchid said.
Orchid also said it posted a net income of $668,000, or $.03 per share, compared to a net loss of $7.3 million, or $.46, in the fourth quarter of 2003.
The company reported cash, cash equivalents, and short-term investments of $30.5 million on hand as of Dec. 31.